A Child Tax Credit is a credit for each child or dependent that households can claim on tax returns. The federal Child Tax Credit covers children under 17 years old and was temporarily expanded in 2021 under the American Rescue Plan Act. The expanded Child Tax Credit increased the amount of the credit, included 17-year-olds, introduced monthly payments to eligible households, and was made refundable, significantly increasing tax refunds for low- and middle-income families. With the expanded federal credit expiring but polls showing broad public approval of the policy, at least 14 states—including Illinois—have considered implementing their own Child Tax Credits. Currently, 15 states have enacted Child Tax Credits.
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UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN
